Question
Maverick bought $3,400 worth of merchandise on Dec 31, 2015. The goods were shipped FOB shipping point and records indicated they arrived on Jan. 2,
Maverick bought $3,400 worth of merchandise on Dec 31, 2015. The goods were shipped FOB shipping point and records indicated they arrived on Jan. 2, 2016. At the same time, they had additional goods of $4,000, shipped FOB Destination that arrived Jan 2, 2016. How much should be included in inventory at Dec.31, 2015?
Group of answer choices
$7,400
$4,000
$3,400
$0
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
9781259722660
